The key to focus on now will be the dual negative divergence into the 50% “halfway” Fibonacci Retracement just above 1,940 which was today’s intraday spike high.

Price trades currently into the 38.2% Fibonacci Retracement, which will be our focal point at the moment:

A bullish “open air” impulse above 1,937 to 1,940 again or otherwise a bearish bias on any reversal down quickly from 1,937.

Sector Breadth tilts bearish today:

It’s not terrible, but 60% of Dow Jones stocks and 54% of S&P 500 stocks are negative right now.

The “Bearish Breadth” Signal comes from the relative strength of Energy, Consumer Staples, and the defensive Utilities sectors. Take note that 100% of S&P 500 Utilities stocks are positive on the session right now.

Our worst sector is the Financials where 13% of stocks are up right now (that alone is bearish).

Still, we can turn our bull or bear intraday attention to possible trend day stocks on either side: